💨 Abstract

Russia is planning to pass a new law that would allow it to seize the frozen assets of foreign companies and investors in response to similar actions by Western countries. The legislation, developed by the justice ministry, follows a decree signed by President Vladimir Putin in May 2024 regarding U.S. assets. The new law would extend to all "unfriendly" states that have imposed sanctions against Russia over its actions in Ukraine.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖